Finance minister Nadia Fettah Alaoui presented Morocco’s 2026 budget outlook to parliamentary finance committees, outlining cautious optimism amid persistent global instability.
The government expects 4.5% GDP growth in 2026, matching 2025 projections, driven by non-agricultural sector growth (4%) and a rebound in agriculture (7.9%).
The forecast is part of a broader medium-term fiscal framework (2026–2028), which projects average growth at 4.2%, signaling confidence in domestic investment conditions.
Inflation is expected to ease to 1.1% by end-2025, down from a 6.6% peak in 2022, stabilizing around 2% annually through 2028.
The government plans to narrow the budget deficit from 3.5% of GDP in 2025 to 3% by 2026, without compromising investment dynamics. Public debt, which reached 71.4% in 2023, is projected to decline gradually to 67% in 2025 and 64.1% by 2028.
Key assumptions include a Brent oil price of $67/barrel in 2025, a stable dirham-dollar exchange rate near 10:1, and a cereal harvest of 70 million quintals, a 40 million increase over 2024.
In her presentation, Fettah emphasized the government’s continued commitment to implementing major structural reforms and honoring policy commitments, particularly around social protection rollout, health system reform, investment stimulation, and job creation.
She acknowledged persistent geopolitical risks and global economic slowdown but stressed Morocco’s macroeconomic resilience.
Fettah said 2025 budget implementation remains on track, with a focus on resource mobilization and expenditure control to contain the deficit at 3.5%.
She reiterated that the 2026 finance bill would align with the royal roadmap for inclusive development and the strategic consolidation of a social-state model.
Rephrase in a different way as if you were a native American speaker as a content creation expert and do not talk about yourself or your experience in the text and do not show yourself as an artificial intelligence who wrote and fill the bullet point in the topic and speak the heart of the topic itself and dont take date of blog in ther first and dont take text like box of newsliter subscribe on post from content and romove all linke insert in content and and remove all affiliate disclosure phrases on content like this “This post may contain Amazon or other affiliate links that allow us to earn a small commission at no extra cost to you. Please see our Disclosure Policy for more info” and “#” put in its place bullet point, and romove name of the web site or his links we are take a content from our new creation
